Private equity may be starting to consolidate its position in the dry bulk sector, with Oaktree Capital’s ousting this week of Gabriel “Villy” Panayotides as boss of Greece’s Excel Maritime.
Excel is one of four bulker companies in which Oaktree’s distressed-asset unit has a sizeable position — together with listed Star Bulk and Eagle Bulk, and private venture Oceanbulk. Oceanbulk is owned in partnership with Greek owner Petros Pappas, who also leads Star.
There
